Gold price today April 22: Rising sharply to a new record, surpassing 3,400 USD/ounce

Gold prices hit a new record high, boosted by a weaker US dollar and uncertainty over the impact of US-China trade tensions on the economy.

The dollar fell sharply as investor confidence in the US economy continued to be dented by comments from US President Donald Trump about Federal Reserve Chairman Jerome Powell. The weaker greenback continued to boost the appeal of gold for holders of other currencies.

Gold prices are rising as a safe-haven reaction as the tariff tensions continue to escalate, noted David Meger, director of metals trading at High Ridge Futures. Meger added that while there may be profit-taking pressure, the fundamental trend for gold remains higher.

Gold price movements today

+ Domestic gold price

Gold price hits new peak. Photo: Cong Hieu

At 6:00 a.m. on April 22, the price of gold bars at Doji and SJC was listed at 116 - 118 million VND/tael (buy - sell), an increase of 4 million VND/tael compared to early this morning.

Meanwhile, the price of gold rings is currently listed by Doji at 113.5 - 117 million VND/tael (buy - sell), an increase of 4 million VND/tael.

+ International gold price

The world gold price listed on Kitco is at 3,432 USD/ounce, up 83 USD/ounce compared to late yesterday afternoon. Gold futures last traded at 3,435 USD/ounce.

Gold Price Forecast

Amid concerns over escalating trade wars and slowing global economic growth, experts still believe that gold has the potential to rise further even though the precious metal is at an all-time high.

Barchart.com senior market analyst Darin Newsom said he sees no reason to change his bullish stance on gold yet, stressing that continued uncertainty will continue to push gold prices higher.

ANZ Bank experts said that gold buying activities for risk prevention have not increased significantly, showing that the potential for price increases is still there. ANZ has raised its forecast for gold prices by the end of this year to $3,600/ounce and its forecast for the next 6 months to $3,500/ounce.

According to Ngoc Vy (VTC News)

Source: https://baogialai.com.vn/gia-vang-hom-nay-224-tang-dung-dung-len-ky-luc-moi-vuot-3400-usdounce-post319910.html